Spectacular Events |
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This past week currencies reacted to spectacular events instead of macroeconomic data. Last weekend, the U.S government announced that it will nationalize Fannie Mae and Freddie Mac, two of the largest institutions specializing in mortgages. The information was a positive kicker for the U.S dollar, which remained gaining till it reached $1.3881 against the euro. A correction movement on Friday, after lower than expected PPI inflation publication, lifted the Eurodollar to $1.4105. Also very
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